The world’s oldest cryptocurrency Bitcoin price fell more than 4 percent on Friday, due to which the central bank of Turkey has banned the use of cryptocurrencies and crypto assets for purchase in the country.
After this decision of Turkey, the price of Bitcoin dropped by 4.6 percent to $ 60,333. Turkey says that it will cause great harm to the people and there is a transaction risk in it. The decision of the central bank of Turkey may halt the crypto market in the country.
Ethereum and XRP also fell by 6 to 12 percent. As global investors, Turkish investors also considered it a safe claim against the fall in lira and inflation. Inflation reached a 16 percent level in Turkey last month.
Bitcoin price recently reached $ 64,600. According to Indian rupees, the price of a bitcoin was now up to about 48.5 lakh rupees. Bitcoin has gained in value due to the turn of Bitcoin by large investors and retail investors. Analysts at Bloomberg have claimed that its price can reach up to $ 4 million.
It is a type of digital or virtual token, which is achieved by solving very complex algorithms. Transfer of this well-known cryptocurrency is easily possible from one network to another.
If any person has bitcoin, its value and value will be considered in the same way as gold is considered while trading in ETFs. With this bitcoin you can also do online shopping and can also keep it as an investment. Let me tell you, bitcoins can be transferred from one personal e-wallet to another personal e-wallet.
Let us tell you, retail investors should avoid bitcoin. Mrinal Aggarwal, financial educator and founder of Finsafe India, has described investing in bitcoin as gambling. She says that “there is no underlying property here, it is unregulated.” Apart from this, the discovery of value is unexpected, so stay away from it.